ASX Announcement
18 April 2018
Sale of Brandon Park
Vicinity Centres (Vicinity, ASX:VCX) together with its co-owner have exchanged contracts to sell Brandon Park in Victoria to a fund managed by Newmark Capital Limited for $135 million1, reflecting a 3.8% premium to book value2. Vicinity will receive $67.5 million in proceeds from the sale of its 50% interest in Brandon Park.
Mr Grant Kelley, Vicinity's CEO and Managing Director, said: "We are pleased to continue to progress the divestment of our non-core assets. Following on from the sale of our 50% interest in Toormina Gardens in January 2018, we have now agreed the sale of approximately $109 million3 of assets this financial year, for a combined 3.1% premium to their book values2."
The transaction is expected to settle at the end of the month.
ENDS
For further information please contact:
Penny Berger
Head of Investor Relations T +61 2 8229 7760
Epenny.berger@vicinity.com.au
About Vicinity Centres
Vicinity Centres (Vicinity or the Group) is one of Australia's leading retail property groups with a fully integrated asset management platform, and over $26 billion in retail assets under management across 81 shopping centres, making it the second largest listed manager of Australian retail property. The Group has a Direct Portfolio with interests in 73 shopping centres (including the DFO Brisbane business) and manages 34 assets on behalf of Strategic Partners, 26 of which are co-owned by the Group. Vicinity is listed on the Australian Securities Exchange (ASX) under the code 'VCX' and has over 24,000 securityholders. Vicinity also has European medium term notes listed on the ASX under the code 'VCD'. For more information visit the Group's website vicinity.com.au, or use your smartphone to scan this QR code.
1 |
Excludes transaction costs. Brandon Park is being acquired by Newmark Capital Limited as trustee for the Newmark Brandon |
Park Core Plus Fund. |
2 |
Prior to contract exchange. |
3 |
Based on Vicinity's ownership interest. |
Vicinity Centres
National Office | Vicinity Limited ABN 90 114 757 783 | |
Level 4, Chadstone Tower One | and Vicinity Centres RE Ltd | |
1341 Dandenong Road | T +61 3 7001 4000 | ABN 88 149 781 322 |
PO Box 104 | F +61 3 7001 4001 | As responsible entity for: |
Chadstone VIC 3148 | vicinity.com.au | Vicinity Centres Trust ARSN 104 931 928 |
Attachments
- Original document
- Permalink
Disclaimer
Vicinity Centres RE Ltd. published this content on 18 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 April 2018 06:01:01 UTC